SPE Hydrocarbon Economics and Evaluation Symposium 15 - 16 Oct 2018 Doubletree Hotel - Greenway Plaza Houston, Texas, USA


Sunday, October 14

08:00 - 15:00
Training Course: Managing Your Business Using PRMS and SEC Standards (2018 Update)
Ticketed Event
Instructor(s) Rawdon Seager

This course is an overview of the 2018 updated SPE Petroleum Resources Management System (PRMS) and the US Securities and Exchange Commission (SEC) regulations. The PRMS is an industry standard approach to classifying petroleum resources. This course compares the key features of PRMS and SEC regulations, and explains how companies may combine the two standards to better manage their business. 


  • PRMS project background including the reasons for and topics included in the update

  • Major principles and key guidelines in PRMS

  • How PRMS captures risk and uncertainty

  • Assessing and reporting unconventional resources

  • SEC disclosure requirements

  • SEC pricing requirement

  • The concept of “Economic Producibility”

  • The use of reliable technology in defining proved reserves limits

  • SEC supplemental guidance

  • Comparison of SEC and PRMS guidelines

  • Reporting requirements and control processes

  • PRMS support for resources, project, and portfolio management

  • Integrating internal business management and external disclosures

  • Improving quality assurance in resource evaluations

Learn more about this training course.